Indian Railway Finance Corporation Ltd.IRFC: H1 revenue +20%, profit +10%; ₹5 lakh Cr asset target held

Indian Railway Finance Corporation's Q2 and H1 FY27 call, held on 16 October 2026, reported first-half revenue growth above 20% and profit after tax growth above 10%, with first-half profit of ₹3,800 crore plus.

Management said profit has grown double digits in five of the last six quarters as the company diversifies beyond railway lending. It held its target of about ₹5 lakh crore of assets by the end of FY27, with a possible shortfall of ₹1,000-2,000 crore, and promised FY27 disbursement above last year's ₹35,000 crore. Nearly 90% of assets earn a margin of only 1.3%, while new non-railway lending earns two to three and a half times as much, so profit can grow near 10% even if assets do not.

The weighted cost of borrowing is 6.55% and management says there is no prepayment pressure. It expects at least ₹50,000 crore a year from the Railways from FY28, with the funding model due at Q3. No quarterly margin, asset or NPA figures were given.